Key Takeaways
- The number of global weakest links (issuers rated 'B-' or lower by S&P Global Ratings with negative outlooks or ratings on CreditWatch with negative implications) has increased to 600, from 440 in our last report.
- The aftermath of the last recession created an elevated number of speculative-grade issuers and weakest links, and the number of weakest links over the total speculative-grade population has risen to an all-time high of 25.6%.
- Default rates among weakest links are typically about eight times higher on average globally--the trailing-12-month weakest links default rate is 28.2%, compared with a speculative-grade default rate of 2.8%.
- The media and entertainment, including hotels, gaming, and leisure (103 issuers); consumer products (82 issuers); and oil and gas (62 issuers) sectors lead weakest links--together they account for 41% of weakest links.
Since the financial crisis, more aggressive financial policies and investors' risk appetite helped promote the growth of low-rated issuers globally. With a combination of the COVID-19 pandemic, the economic cost of policies to manage it, and a deep and sustained oil price dislocation, these issuers face unprecedented challenges that will likely escalate their downgrade and default prospects.
The number of weakest links (issuers rated 'B-' or lower by S&P Global Ratings with negative outlooks or ratings on CreditWatch with negative implications) has continued to grow at unprecedented levels, to 600 in May from 440 in March. Weakest links as a percent of total speculative grade has risen to an all-time high of 25.6%, above 2009 levels of 20.0% (see chart 1).
Weakest links are a particularly important indicator of future defaults as their default rates are typically about eight times higher on average globally. The current trailing-12-month weakest links default rate is 28.2%, compared with a speculative-grade default rate of 2.8% (ended March 2020). Moreover, weakest links account for the largest share of defaults, particularly during periods of economic stress. For example, during the 2001-2002 economic downturn, more than half of the weakest links defaulted within 12 months, and nearly 65% defaulted within three years. By contrast, about 10% of all speculative-grade-rated issuers defaulted within 12 months, and about 23% defaulted within three years.
Chart 1
Weakest Links In A Time Of Economic Stress
Default rates among weakest links are typically more volatile than those among all speculative-grade issuers over both one-year and three-year time frames, and they are about eight times higher on average globally. When we look at this by region:
- In the U.S. and emerging markets, they are nine times higher on average;
- In other developed markets, they are six times higher on average; and
- In Europe, they are eight times higher.
As of March 31, 2020, the trailing-36-month weakest links default rate was 38.9%, compared with a speculative-grade default rate of 6.4% (see chart 2). In addition, the trailing-12-month weakest links default rate was 28.2%, compared with a speculative-grade default rate of 2.8%. If half of the current number of global weakest links default--as they did during the financial crisis of 2008-2009, when the 12-month speculative-grade default rates reached 10%--we could see 271 defaults, averaging 23 defaults over the next 12 months. Defaults in April totaled 32, higher than the 23 defaults per month average (see table 3).
Due to the smaller sample size of weakest link issuers, the weakest links' default rate is notably volatile. To provide a more effective analysis, we have taken the mean 12-month default rates for weakest links by each region (see table 1).
Chart 2
Table 1
Regional Breakdown Of 12-Month-Trailing Weakest Links Default Rates (%) | ||||||
---|---|---|---|---|---|---|
Region | Weakest links default rate | All speculative-grade default rate | ||||
Global | 24.1 | 2.8 | ||||
U.S. | 25.8 | 3.5 | ||||
Europe | 25.2 | 2.4 | ||||
Emerging markets | 17.3 | 1.9 | ||||
Other developed | 30.8 | 2.0 | ||||
Data as of March 31, 2020. Source: S&P Global Ratings. |
Table 2
In All Regions Except EEMEA, Current Weakest Links Surpass Five- And 10-Year Averages | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Number of weakest links ('B-' and lower with CreditWatch negative/negative outlook) | Five-year averages | 10-year averages | Total rated speculative-grade issuers | % of weakest links to total speculative-grade-rated issuers | Current distribution by region (%) | Distribution by region 12 months prior (%) | ||||||||||
U.S. | 424 | 153 | 118 | 1480 | 28.65 | 70.7 | 71.6 | |||||||||
Europe | 98 | 26 | 22 | 527 | 18.60 | 16.3 | 12.6 | |||||||||
Latin America | 31 | 14 | 15 | 119 | 26.05 | 5.2 | 6.0 | |||||||||
Canada | 26 | 8 | 7 | 86 | 30.23 | 4.3 | 2.3 | |||||||||
Asia/Pacific | 14 | 8 | 7 | 105 | 13.33 | 2.3 | 4.2 | |||||||||
EEMEA | 7 | 14 | 11 | 122 | 5.74 | 1.2 | 3.3 | |||||||||
Data as of May 11, 2020. EEMEA--Eastern Europe/Middle East/Africa. Source: S&P Global Ratings Research. |
Recent Rating Actions Have Led To An Increase In Lower-Rated Entities
In recessionary times, the effect on ratings is more pronounced at the lower end of the credit spectrum. In April alone, S&P Global Ratings took rating actions on more than 650 nonfinancial corporate issuers, 80% of which were issuers with speculative-grade ratings. By rating, the number of issuers in the 'B-' and 'CCC' categories with negative outlooks or on CreditWatch negative implications has surpassed levels during the great financial crisis.
Chart 3
Consumer Products And Oil And Gas Lead Weakest Link Additions In April
Sectors particularly hard hit by the demand shock due to measures taken to control COVID-19 include media and entertainment (particularly travel-related companies, live events, theatrical events, theme parks, advertising), consumer products (food services, durables, apparel, direct marketers, musical instruments, and cosmetics), and oil and gas issuers--which all lead the weakest links tally. All three sectors have weaker ratings profiles than other sectors and have been directly affected by either low oil prices or social distancing and mandatory lockdown measures that have halted the demand for non-essential goods and services.
Chart 4
Chart 5
Table 3
Weakest Links Listed In The Top 250 Corporate Obligors Based On Outstanding Rated U.S. Cash Flow CLOs | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|
Media and entertainment accounts for over one-third | ||||||||||
Organization | Rank in U.S. CLO transactions | Outlook/CreditWatch | Applied rating | Sector/subsector | ||||||
Endeavor Operating Co. LLC |
8 | Negative | CCC+ | Media and entertainment | ||||||
Finastra Ltd. |
39 | Negative | CCC+ | High technology | ||||||
Banff Parent Inc. |
46 | Watch Neg | B- | High technology | ||||||
Intrado Corp. |
47 | Negative | B- | Telecommunications | ||||||
GTT Communications Inc. |
72 | Negative | CCC+ | Telecommunications | ||||||
Golden Nugget Inc. |
81 | Negative | B- | Retail/restaurants | ||||||
Wand NewCo 3 Inc. |
82 | Negative | B- | Automotive | ||||||
AVSC Holding Corp. |
96 | Watch Neg | B- | Media and entertainment | ||||||
Toro Private Holdings I Ltd. |
100 | Negative | B- | Transportation | ||||||
Dynasty Acquisition Co. Inc. |
102 | Negative | B- | Aerospace and defense | ||||||
Solera Parent Holding LLC |
123 | Negative | B- | High technology | ||||||
LTI Holdings Inc. |
125 | Negative | CCC+ | Capital goods | ||||||
Surgery Partners Inc. |
132 | Watch Neg | B- | Health care | ||||||
Oryx Midstream Holdings LLC |
137 | Negative | B- | Midstream | ||||||
KUEHG Corp. |
138 | Negative | CCC+ | Media and entertainment | ||||||
AMC Entertainment Holdings Inc. |
139 | Negative | CCC- | Media and entertainment | ||||||
Solenis UK International Ltd. |
143 | Negative | B- | Chemicals, packaging, and environmental services | ||||||
Petco Holdings Inc. |
170 | Negative | CCC+ | Retail/restaurants | ||||||
Veritas Holdings Ltd. |
174 | Negative | B- | High technology | ||||||
Riverbed Parent Inc. |
176 | Negative | CCC+ | High technology | ||||||
Mohegan Tribal Gaming Authority |
177 | Watch Neg | B- | Media and entertainment | ||||||
Vericast Corp. |
179 | Negative | CCC+ | Media and entertainment | ||||||
Pugnacious Endeavors Inc. |
186 | Negative | B- | Media and entertainment | ||||||
Project Boost Purchaser LLC |
191 | Negative | B- | High technology | ||||||
USS Ultimate Holdings Inc. |
192 | Negative | B- | Chemicals, packaging, and environmental services | ||||||
Mallinckrodt plc |
196 | Negative | CCC | Health care | ||||||
ClubCorp Holdings Inc. |
211 | Negative | CCC+ | Media and entertainment | ||||||
NEP/NCP Holdco Inc. |
212 | Watch Neg | B- | Media and entertainment | ||||||
WP CPP Holdings LLC |
220 | Negative | B- | Aerospace and defense | ||||||
Idemia France SAS |
234 | Negative | B- | High technology | ||||||
Varsity Brands Holding Co. Inc. |
248 | Negative | CCC+ | Consumer products | ||||||
DTI Holdco Inc. |
249 | Negative | CCC+ | Media and entertainment | ||||||
Equinox Holdings Inc. |
250 | Negative | CCC | Media and entertainment | ||||||
CLO--Collateralized loan obligation. Data as of April 22, 2020. Source: S&P Global Ratings Research. |
Table 4
Over Half The 2020 Defaults Were Added In April | ||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Global corporate defaults | ||||||||||||||||
Company | Country | Industry | Debt (mil. $) | Default date | From | To | Weakest link | |||||||||
Constellis Holdings LLC |
U.S. | Aerospace/automotive/capital goods/metal | 1,272.00 | 1/2/2020 | CC | SD | Yes | |||||||||
TOMS Shoes LLC |
U.S. | Consumer/service sector | 306.50 | 1/7/2020 | CCC | D | Yes | |||||||||
SAL Acquisition Corp. |
U.S. | Consumer/service sector | 740.00 | 1/9/2020 | CCC | SD | Yes | |||||||||
Lecta S.A. |
Luxembourg | Forest and building products/homebuilders | 668.39 | 1/13/2020 | CC | SD | Yes | |||||||||
Qinghai Provincial Investment Group Co. Ltd. |
China | Energy and natural resources | 850.00 | 1/14/2020 | CCC- | D | Yes | |||||||||
Krystal Co. (The) |
U.S. | Consumer/service sector | 0.00 | 1/19/2020 | NR | D | No | |||||||||
Panda Green Energy Group Ltd. |
Bermuda | Utilities | 350.00 | 1/21/2020 | CC | SD | Yes | |||||||||
Deoleo S.A. |
Spain | Consumer/service sector | 665.10 | 1/22/2020 | CC | SD | Yes | |||||||||
Doncasters Group Ltd. |
U.K. | Aerospace/automotive/capital goods/metal | 1,118.14 | 1/29/2020 | CCC- | SD | Yes | |||||||||
Pinnacle Operating Corp. |
U.S. | Health care/chemicals | 846.00 | 1/30/2020 | CCC | SD | Yes | |||||||||
Commercial Barge Line Co. |
U.S. | Transportation | 1,150.00 | 2/7/2020 | CC | D | Yes | |||||||||
RentPath, LLC |
U.S. | Leisure time/media | 0.00 | 2/12/2020 | NR | D | No | |||||||||
McClatchy Co. (The) |
U.S. | Leisure time/media | 710.00 | 2/13/2020 | CC | D | Yes | |||||||||
Moby SpA |
Italy | Transportation | 606.96 | 2/14/2020 | CCC- | SD | Yes | |||||||||
NPC International Inc. |
U.S. | Consumer/service sector | 950.00 | 2/14/2020 | CCC- | SD | Yes | |||||||||
Pier 1 Imports Inc. |
U.S. | Consumer/service sector | 200.00 | 2/18/2020 | CCC- | D | Yes | |||||||||
Tunghsu Group Co. Ltd. |
China | High tech/computers/office equipment | 390.00 | 2/21/2020 | CCC- | SD | Yes | |||||||||
VIP Cinema Holdings Inc. |
U.S. | Consumer/service sector | 230.00 | 2/24/2020 | CCC- | D | Yes | |||||||||
Calfrac Well Services Ltd. |
Canada | Energy and natural resources | 650.00 | 2/25/2020 | CC | SD | Yes | |||||||||
PFS Holding Corp. |
U.S. | Consumer/service sector | 390.00 | 2/28/2020 | CCC- | SD | Yes | |||||||||
Pioneer Energy Services Corp. |
U.S. | Energy and natural resources | 175.00 | 3/3/2020 | CCC- | D | Yes | |||||||||
Bluestem Brands Inc. |
U.S. | Consumer/service sector | 0.00 | 3/9/2020 | NR | D | No | |||||||||
Ascena Retail Group Inc. |
U.S. | Consumer/service sector | 1,800.00 | 3/12/2020 | CCC | SD | Yes | |||||||||
Optimas OE Solutions Holding LLC |
U.S. | Aerospace/automotive/capital goods/metal | 225.00 | 3/12/2020 | CCC+ | SD | Yes | |||||||||
Frontier Communications Corp. |
U.S. | Telecommunications | 12,628.00 | 3/16/2020 | CCC- | SD | Yes | |||||||||
Internap Corp. |
U.S. | Telecommunications | 435.00 | 3/17/2020 | CCC+ | D | Yes | |||||||||
Geo Energy Resources Ltd. |
Singapore | Energy and natural resources | 0.00 | 3/19/2020 | B- | SD | Yes | |||||||||
Grain Insurance Co. JSC |
Kazakhstan | Insurance | 0.00 | 3/20/2020 | B | D | No | |||||||||
Optiv Inc. |
U.S. | High tech/computers/office equipment | 1,030.00 | 3/27/2020 | CCC+ | SD | No | |||||||||
Yida China Holdings Ltd. |
Cayman Islands | Forest and building products/homebuilders | 300.00 | 3/27/2020 | CC | SD | Yes | |||||||||
PGX Holdings Inc. |
U.S. | High tech/computers/office equipment | 555.00 | 4/1/2020 | CCC | D | Yes | |||||||||
Steak n Shake Inc. (Biglari Holdings Inc.) |
U.S. | Consumer/service sector | 220.00 | 4/1/2020 | CCC- | SD | Yes | |||||||||
Whiting Petroleum Corp. |
U.S. | Energy and natural resources | 4,037.00 | 4/1/2020 | CCC+ | D | Yes | |||||||||
KCA DEUTAG Alpha Ltd. |
U.K. | Energy and natural resources | 1,685.00 | 4/2/2020 | CCC+ | SD | Yes | |||||||||
CDS Group |
Canada | Leisure time/media | 2,745.00 | 4/3/2020 | CCC- | D | Yes | |||||||||
New Millennium Holdco Inc. |
U.S. | Health care/chemicals | 1,200.00 | 4/3/2020 | CC | D | Yes | |||||||||
BW Homecare Holdings LLC |
U.S. | Health care/chemicals | 955.00 | 4/6/2020 | CCC | SD | Yes | |||||||||
FE Investments Ltd. (FE Investments Group Ltd.) |
New Zealand | Financial institutions | 0.00 | 4/6/2020 | CCC | D | No | |||||||||
Gavilan Resources LLC |
U.S. | Energy and natural resources | 450.00 | 4/7/2020 | CCC- | D | Yes | |||||||||
Jason Inc. |
U.S. | Aerospace/automotive/capital goods/metal | 420.00 | 4/7/2020 | CCC | SD | Yes | |||||||||
Quorum Health Corp. |
U.S. | Health care/chemicals | 880.00 | 4/7/2020 | CCC- | D | Yes | |||||||||
Speedcast International Ltd. |
Australia | Telecommunications | 1,200.00 | 4/7/2020 | CCC | D | Yes | |||||||||
North American Lifting Holdings Inc. |
U.S. | Aerospace/automotive/capital goods/metal | 655.00 | 4/8/2020 | CCC- | SD | Yes | |||||||||
SPR Holdings LLC |
U.S. | Energy and natural resources | 0.00 | 4/8/2020 | CCC+ | D | Yes | |||||||||
Vestel Elektronik Sanayi Ve Ticaret A.S. |
Turkey | High tech/computers/office equipment | 0.00 | 4/10/2020 | CCC+ | SD | No | |||||||||
LSC Communications Inc. |
U.S. | Leisure time/media | 763.00 | 4/14/2020 | CC | D | Yes | |||||||||
Libbey Inc. |
U.S. | Consumer/service sector | 0.00 | 4/14/2020 | CCC | SD | Yes | |||||||||
NMC Health PLC |
U.A.E. | Health care/chemicals | 0.00 | 4/14/2020 | CCC- | D | Yes | |||||||||
Intelsat S.A. |
Luxembourg | High tech/computers/office equipment | 4,835.00 | 4/15/2020 | CCC+ | SD | Yes | |||||||||
O1 Properties Ltd. |
Cyprus | Real estate | 0.00 | 4/16/2020 | CC | D | Yes | |||||||||
Penney (J.C.) Co. Inc. |
U.S. | Consumer/service sector | 4,468.00 | 4/16/2020 | CCC | D | Yes | |||||||||
Mister Car Wash Holdings Inc. |
U.S. | Consumer/service sector | 800.00 | 4/17/2020 | CCC+ | SD | Yes | |||||||||
Ultra Petroleum Corp. |
U.S. | Energy and natural resources | 0.00 | 4/17/2020 | CCC- | D | Yes | |||||||||
Engine Holding LLC |
U.S. | Leisure time/media | 0.00 | 4/21/2020 | CCC- | D | Yes | |||||||||
Neiman Marcus Group LTD LLC |
U.S. | Consumer/service sector | 6,469.00 | 4/22/2020 | CCC- | D | Yes | |||||||||
Northwest Acquisitions ULC |
Canada | Energy and natural resources | 750.00 | 4/23/2020 | CCC+ | D | Yes | |||||||||
Diamond Offshore Drilling Inc. |
U.S. | Energy and natural resources | 4,350.00 | 4/24/2020 | CC | D | Yes | |||||||||
Enjoy S.A. |
Chile | Leisure time/media | 300.00 | 4/24/2020 | B- | D | Yes | |||||||||
Envision Healthcare Corp. (Envision Healthcare Holdings Inc.) |
U.S. | Health care/chemicals | 6,975.00 | 4/28/2020 | CC | SD | Yes | |||||||||
CSM Bakery Solutions LLC |
U.S. | Consumer/service sector | 1,060.00 | 4/29/2020 | CCC | SD | Yes | |||||||||
Virgin Australia Holdings Ltd. |
Australia | Transportation | 1,035.96 | 4/30/2020 | CC | D | Yes | |||||||||
J. Crew Group Inc. (Chinos Intermediate Holdings A, Inc.) |
U.S. | Consumer/service sector | 1,567.00 | 5/4/2020 | CCC- | D | Yes | |||||||||
Evergreen Skills Lux S.ar.l. (Evergreen Skills Intermediate Lux S.ar.l.) |
Luxembourg | High tech/computers/office equipment | 2,035.00 | 5/5/2020 | CCC- | D | Yes | |||||||||
Hertz Global Holdings Inc. |
U.S. | Transportation | 5,050.00 | 5/7/2020 | CCC- | SD | Yes | |||||||||
Petra Diamonds Ltd. |
Bermuda | Energy and natural resources | 0.00 | 5/8/2020 | CCC+ | D | Yes | |||||||||
Yihua Enterprise (Group) Co. Ltd. |
China | Consumer/service sector | 250.00 | 5/11/2020 | CCC | SD | Yes | |||||||||
Avianca Holdings S.A. |
Panama | Transportation | 1,595.00 | 5/11/2020 | CCC- | D | Yes | |||||||||
Excludes confidential entities. Data as of May 11, 2020. Source: S&P Global Market Intelligence’s CreditPro®. |
Appendix
Chart 6
Chart 7
Chart 8
Table 5
Issuers Rated 'B-' Or Lower With Negative Outlooks Or Ratings On CreditWatch With Negative Implications | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Rating | Outlook/CreditWatch Placement | Subsector | Issuer | Parent company | New to the list this month | Outlook/CreditWatch change | Debt (mil. US$) | Country | Region | |||||||||||
B- | CreditWatch Negative | Automotive | Adler Pelzer Holding GmbH | 380 | Germany | Europe | ||||||||||||||
B- | CreditWatch Negative | Automotive | Kongsberg Automotive ASA | Yes | 299 | Norway | Europe | |||||||||||||
B- | CreditWatch Negative | Chemicals, packaging, and environmental services | AgroFresh Inc. | 425 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Consumer products | Chefs' Warehouse Inc., (The) | 710 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Consumer products | Edward Don & Co. Holdings, LLC | 210 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Consumer products | KLDiscovery Inc. | 680 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Consumer products | Lands' End Inc., | Yes | 515 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Consumer products | Pesquera Exalmar S.A.A. | Yes | 61 | Peru | Latin America | |||||||||||||
B- | CreditWatch Negative | Consumer products | S.A. Usina Coruripe Acucar e Alcool | Yes | - | Brazil | Latin America | |||||||||||||
B- | CreditWatch Negative | Consumer products | Sierra Enterprises LLC | 282 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Consumer products | SIRVA Inc. | 850 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Financial institutions | Muganbank OJSC | Yes | - | Azerbaijan | Eastern Europe/Middle East/Africa | |||||||||||||
B- | CreditWatch Negative | Financial institutions | OCWEN Financial Corp. | Yes | 550 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Forest products and building materials | InterCement Brasil S.A. | InterCement Participacoes S.A. | - | Brazil | Latin America | |||||||||||||
B- | CreditWatch Negative | Forest products and building materials | Pro.Gest SpA | 543 | Italy | Europe | ||||||||||||||
B- | CreditWatch Negative | Forest products and building materials | Tensar Corp. (The) | Yes | 310 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Forest products and building materials | The New Home Co. Inc. | 325 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | Alliance HealthCare Services | 525 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | American Dental Partners Inc., | 215 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | ATI Holdings Acquisition Inc., | 993 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | Confluent Health, LLC | 200 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | Covenant Surgical Partners Inc., | 700 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Health care | Dentalcorp Health Services ULC | 1,152 | Canada | Canada | ||||||||||||||
B- | CreditWatch Negative | Health care | NN Inc., | Yes | 1,105 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Health care | Surgery Partners Inc., | 2,355 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | High technology | GI Revelation Acquisition LLC | 715 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Homebuilders/real estate companies | Ezdan Holding Group Q.S.C. | Yes | 2,000 | Qatar | Eastern Europe/Middle East/Africa | |||||||||||||
B- | CreditWatch Negative | Homebuilders/real estate companies | PT Modernland Realty Tbk. | Yes | 390 | Indonesia | Asia/Pacific | |||||||||||||
B- | CreditWatch Negative | Insurance | APCO Super Holdco LP | 220 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Insurance | Confie Seguros Holding Co. | Yes | 1,065 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | 18 Fremont Street Acquisition, LLC | 450 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | ABC Financial Intermediate, LLC | Yes | - | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | Affinity Gaming | 495 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Airxcel Inc. | 480 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | AVSC Holding Corp. | 1,980 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Carlson Travel Inc | 1,274 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Casper MidCo SAS | 945 | France | Europe | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Century Casinos Inc., | 170 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Comet Bidco Ltd. | 812 | U.K. | Europe | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | CWGS Enterprises, LLC | 1,190 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Digital Room Holdings Inc., | Yes | 365 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | Europcar Mobility Group S.A. | Yes | 1,684 | France | Europe | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | Hoya Midco, LLC | Yes | 640 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | Hubbard Radio, LLC | Yes | 480 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | International Park Holdings B.V. | 728 | Spain | Europe | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Jacobs Entertainment Inc. | Yes | 385 | U.S. | U.S. | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | National Amusements Inc. | 300 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | NEP/NCP Holdco Inc. | 1,370 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Pinnacle Bidco PLC | Yes | 523 | U.K. | Europe | |||||||||||||
B- | CreditWatch Negative | Media and entertainment | Piolin Bidco S.A.U. | 1,054 | Spain | Europe | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Promotora de Informaciones S.A. | - | Spain | Europe | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | SBP Holding LP | 845 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Spectacle Gary Holdings, LLC | 370 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | Sugarhouse HSP Gaming Prop. Mezz. L.P. | 600 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | The Octave Music Group Inc. | 290 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Media and entertainment | TUI AG | 326 | Germany | Europe | ||||||||||||||
B- | CreditWatch Negative | Metals, mining, and steel | Algoma Steel Inc. | 285 | Canada | Canada | ||||||||||||||
B- | CreditWatch Negative | Metals, mining, and steel | Companhia Siderurgica Nacional (CSN) | Yes | 1,200 | Brazil | Latin America | |||||||||||||
B- | CreditWatch Negative | Oil and gas | PGS ASA | - | Norway | Europe | ||||||||||||||
B- | CreditWatch Negative | Retail/restaurants | AAG FH LP | Yes | 244 | Canada | Canada | |||||||||||||
B- | CreditWatch Negative | Retail/restaurants | Container Store Group Inc., (The) | 273 | U.S. | U.S. | ||||||||||||||
B- | CreditWatch Negative | Retail/restaurants | Mabel Topco Ltd. | The Restaurant Group PLC | 280 | U.K. | Europe | |||||||||||||
B- | CreditWatch Negative | Telecommunications | Tele Columbus AG | Yes | 769 | Germany | Europe | |||||||||||||
B- | CreditWatch Negative | Transportation | Gol Linhas Aereas Inteligentes S.A. | - | Brazil | Latin America | ||||||||||||||
B- | CreditWatch Negative | Transportation | URS Holdco Inc., | Yes | 747 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Aerospace and defense | Dynasty Acquisition Co. Inc., | Yes | 2,340 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Aerospace and defense | Forming Machining Industries Holdings, LLC | 320 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Aerospace and defense | Jazz Acquisition Inc. | Wencor Group LLC | 530 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Aerospace and defense | Salient CRGT Inc., | 420 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Aerospace and defense | Triumph Group Inc. | 1,325 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Aerospace and defense | Wesco Aircraft Holdings Inc. | Wolverine Intermediate Holding Corp. | Yes | 2,075 | U.S. | U.S. | ||||||||||||
B- | Outlook Negative | Aerospace and defense | WP CPP Holdings LLC | Yes | 1,506 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | Cooper-Standard Holdings Inc., | Yes | 740 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | Dealer Tire LLC | Yes | 1,733 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | EnTrans International, LLC | Yes | 255 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | FleetPride Inc., | Fastlane Parent Co. Inc., | Yes | 845 | U.S. | U.S. | ||||||||||||
B- | Outlook Negative | Automotive | Grupo Antolin Irausa SA | 2,010 | Spain | Europe | ||||||||||||||
B- | Outlook Negative | Automotive | Holley Purchaser Inc., | 400 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Automotive | Parts Holding Europe SAS | Dakar Finance S.A. | Yes | 1,046 | France | Europe | ||||||||||||
B- | Outlook Negative | Automotive | TPro Acquisition Corp. | Yes | 300 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | Truck Holdings Inc. | 1,495 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Automotive | Wand NewCo 3 Inc., | Yes | 2,541 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Automotive | Wheel Pros Inc., | 716 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Capital goods | Brand Industrial Services Inc., | Yes | 3,825 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | CFS Brands LLC | 408 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Capital goods | CIRCOR International Inc., | Yes | 492 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Crosby Worldwide Ltd. | - | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Capital goods | DexKo Global Inc. | Yes | 2,998 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Energy Holdings (Cayman) Ltd., | Yes | 2,094 | Cayman Islands | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | FR Flow Control Midco Ltd. | Yes | - | U.K. | Europe | |||||||||||||
B- | Outlook Negative | Capital goods | Heidelberger Druckmaschinen AG | Yes | 223 | Germany | Europe | |||||||||||||
B- | Outlook Negative | Capital goods | Infrastructure and Energy Alternatives Inc., | - | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Capital goods | JMC Acquisition Corp. | Yes | 460 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | LJ Ruby Holdings, LLC | Yes | 435 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Maxim Crane Works Holdings Capital, LLC | Yes | 545 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Norican Global A/S | 369 | Denmark | Europe | ||||||||||||||
B- | Outlook Negative | Capital goods | QualTek USA, LLC | Yes | 380 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Rubix Group Holdings Ltd. | Yes | 1,858 | U.K. | Europe | |||||||||||||
B- | Outlook Negative | Capital goods | Safe Fleet Holdings LLC | Yes | 1,435 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Star UK Midco Ltd. | Yes | 535 | U.K. | Europe | |||||||||||||
B- | Outlook Negative | Capital goods | Tailwind Smith Cooper Holding Corp. | Yes | - | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | Tank Holding Corp. | Yes | 529 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Capital goods | USIC Holdings Inc. | Yes | 1,892 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | ASP Chromaflo Holdings LP | Yes | 960 | Cayman Islands | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Ball Metalpack Finco LLC | 540 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Cornerstone Chemical Co. | Yes | 450 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Dunn Paper Holdings Inc. | 350 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | EnergySolutions Inc. | 650 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Fort Dearborn Holding Co. Inc. | 625 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Hexion Inc. | 1,637 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Kleopatra Holdings 1 S.C.A. | 2,052 | Luxembourg | Europe | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Kronos Worldwide Inc. | Yes | 435 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Perstorp Holding AB (publ) | Yes | 940 | Sweden | Europe | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Pregis TopCo Corp. | Yes | 615 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Ring Container Technologies Group, LLC | Yes | 540 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | SK Invictus Intermediate II S.a r.l. | 1,430 | Luxembourg | Europe | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Solenis UK International Ltd. | 4,819 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | TPC Group Inc., | TPC Group LLC | Yes | 930 | U.S. | U.S. | ||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Trident TPI Holdings Inc., | 2,404 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | USS Ultimate Holdings Inc., | Yes | 2,490 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Chemicals, packaging, and environmental services | Vantage Specialty Chemicals Inc. | 758 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Acropole Holding | 527 | France | Europe | ||||||||||||||
B- | Outlook Negative | Consumer products | Afflelou SAS | 451 | France | Europe | ||||||||||||||
B- | Outlook Negative | Consumer products | Amer Sports Holding 1 Oy | Yes | 1,847 | Finland | Europe | |||||||||||||
B- | Outlook Negative | Consumer products | Boardriders Inc., | 450 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Cast & Crew Payroll, LLC | Yes | 890 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | CB Poly Investments, LLC | Yes | 1,686 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | CHG PPC Intermediate II LLC | Yes | 881 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | Corporacion Azucarera del Peru S. A. | 325 | Peru | Latin America | ||||||||||||||
B- | Outlook Negative | Consumer products | Fetch Holdco LLC | - | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Genuine Financial Holdings, LLC | Yes | 1,050 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | Halo Buyer Inc. | Yes | 370 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | Haya Real Estate S.A.U | Yes | 516 | Spain | Europe | |||||||||||||
B- | Outlook Negative | Consumer products | Hillman Cos. Inc. (The) | Yes | 1,390 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | IM Growth SAS | Yes | 217 | France | Europe | |||||||||||||
B- | Outlook Negative | Consumer products | Innovative Water Care Global Corp. | 460 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | KNEL Acquisition LLC | 465 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Knowlton Development HoldCo Inc., | Yes | 1,860 | Canada | Canada | |||||||||||||
B- | Outlook Negative | Consumer products | Livingston International Inc. | 344 | Canada | Canada | ||||||||||||||
B- | Outlook Negative | Consumer products | LSF9 Balta Issuer S.A. | 403 | Belgium | Europe | ||||||||||||||
B- | Outlook Negative | Consumer products | Marcolin SpA | Yes | 272 | Italy | Europe | |||||||||||||
B- | Outlook Negative | Consumer products | Nutrition Parent LLC | 248 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Owens & Minor Inc. | 5,529 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | P&L Development Holdings, LLC | 313 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | PetroChoice Holdings Inc., | Yes | 445 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | pH Beauty Holdings I Inc., | Yes | 340 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | Premier Brands Group Holdings LLC | 325 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | Selecta Group B.V. | Yes | 1,606 | Netherlands | Europe | |||||||||||||
B- | Outlook Negative | Consumer products | SIWF Holdings Inc., | Yes | 1,145 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | STG-Fairway Holdings, LLC (d/b/a First Advantage Corp.) | Yes | 815 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Consumer products | TGP Holdings III LLC | 456 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Consumer products | YS Garments LLC | 330 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Financial institutions | Freedom Mortgage Corp. | Yes | 1,350 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Financial institutions | Mulhacen Pte. Ltd. | 560 | Singapore | Asia/Pacific | ||||||||||||||
B- | Outlook Negative | Financial institutions | Ravnaq-bank Private Open Joint-Stock Commercial Bank | Yes | - | Uzbekistan | Eastern Europe/Middle East/Africa | |||||||||||||
B- | Outlook Negative | Financial institutions | Turkiston Bank | Yes | - | Uzbekistan | Eastern Europe/Middle East/Africa | |||||||||||||
B- | Outlook Negative | Financial institutions | World Acceptance Corp. | - | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Forest products and building materials | Plaskolite PPC Intermediate II LLC | Plaskolite PPC Intermediate I LLC | 660 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Forest products and building materials | Specialty Building Products Holdings, LLC | 500 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Forest products and building materials | Werner FinCo LP | New Werner Holding Co. Inc., | 625 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | Aegis Toxicology Sciences Corp. | Aegis Acquistion Inc., | 300 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | Albany Molecular Research Inc. | 1,720 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Health care | Alvogen Pharma US Inc., | Alvogen Lux Holdings S.a.r.l. | 2,119 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | American Renal Associates Holdings Inc., | Yes | 440 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | Arbor Pharmaceuticals Inc. | Yes | 500 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | Avalign Holdings Inc., | 458 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Health care | Buccaneer Intermediate Holdco Ltd. | Yes | 545 | U.K. | Europe | |||||||||||||
B- | Outlook Negative | Health care | ERC Topco Holdings, LLC | Yes | 220 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Health care | Greenway Health, LLC | 530 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Health care | Lannett Co. Inc., | 1,060 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Health care | Team Health Holdings Inc., | Yes | 7,230 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Aspen Jersey Topco LLC | Yes | 300 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Cohu Inc., | 350 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | High technology | Crackle Intermediate Corp. | Crackle Holdings LP | - | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Diebold Nixdorf Inc. | 4,084 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | High technology | Eclipse Midco Inc., | Yes | 694 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Electronics for Imaging Inc., | 1,100 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | High technology | First American Payment Systems LP | Yes | 275 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Franklin Ireland Topco Ltd. | Yes | - | Ireland | Europe | |||||||||||||
B- | Outlook Negative | High technology | Idemia France SAS | 6,795 | France | Europe | ||||||||||||||
B- | Outlook Negative | High technology | Mitel Networks (International) Ltd. | Yes | 1,380 | U.K. | Europe | |||||||||||||
B- | Outlook Negative | High technology | Nets Topco 3 S.a r.l. | Yes | 3,377 | Denmark | Europe | |||||||||||||
B- | Outlook Negative | High technology | Procera I, LP | Yes | 510 | Canada | Canada | |||||||||||||
B- | Outlook Negative | High technology | Project Boost Purchaser LLC | Yes | 1,230 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Project Silverback Holding Corp. | 943 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | High technology | QBS Parent Inc., | Project Quarterback Parent, LLC | 420 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Shift4 Payments LLC | Yes | 650 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Solera Parent Holding, LLC | Yes | 11,394 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Starfish Holdco LLC | Yes | 4,733 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Trade Me Group Ltd. | Yes | 605 | New Zealand | Asia/Pacific | |||||||||||||
B- | Outlook Negative | High technology | Triton UK Midco Ltd. | 305 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | High technology | Veritas Holdings Ltd. | Yes | 8,656 | Bermuda | U.S. | |||||||||||||
B- | Outlook Negative | High technology | Wirepath LLC | Crackle Holdings LP | 682 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Homebuilders/real estate companies | PT Lippo Karawaci Tbk. | 1,160 | Indonesia | Asia/Pacific | ||||||||||||||
B- | Outlook Negative | Insurance | Amynta Holdings LLC | 1,455 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Insurance | One Call Corp. | One Call Care Management Inc., | Yes | 1,866 | U.S. | U.S. | ||||||||||||
B- | Outlook Negative | Insurance | Wethaq Takaful Insurance Co. K.S.C. | Yes | - | Kuwait | Eastern Europe/Middle East/Africa | |||||||||||||
B- | Outlook Negative | Media and entertainment | APX Group Holdings Inc. | Yes | 4,577 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | AQ Carver Buyer Inc., | Yes | 455 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | Awaze Ltd. | Yes | 1,072 | U.K. | Europe | |||||||||||||
B- | Outlook Negative | Media and entertainment | Bowlero Corp. | 1,045 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Cassini | 715 | France | Europe | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Cengage Learning Holdings II Inc. | Yes | 2,580 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | Cirsa Enterprises S.L.U. | LHMC Finco 2 S.a.r.l. | Yes | 2,172 | Spain | Europe | ||||||||||||
B- | Outlook Negative | Media and entertainment | ConvergeOne Holdings Inc. | 1,235 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Deliver Buyer Inc., | 630 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | DMT Solutions Global Corp. | 250 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | EagleView Technology Corp. | 765 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Infogroup Inc. | 250 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | IRI Holdings Inc. | 1,600 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | McGraw-Hill Education Inc., | Yes | 2,125 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | Monitronics International Inc. | 1,923 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Prometric Holdings Inc., | 1,294 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Pugnacious Endeavors Inc. | Yes | 2,192 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | SP PF Buyer LLC | 439 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Spring Education Group Inc. | 866 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Sterling Intermediate Corp. | Yes | 655 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Media and entertainment | TEG Pty Ltd. | Yes | 770 | Australia | Asia/Pacific | |||||||||||||
B- | Outlook Negative | Media and entertainment | TMF Sapphire Midco B.V. | 1,413 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Tornante - MDP Joe Holding LLC | 125 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Media and entertainment | Vue International Bidco plc | 894 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Media and entertainment | World Endurance Holdings Inc. | 520 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Merchant power | Terra-Gen Finance Co. LLC | Terra-Gen Power Holding II LLC | 323 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Metals, mining, and steel | Baffinland Iron Mines Corp. | 1,850 | Canada | Canada | ||||||||||||||
B- | Outlook Negative | Metals, mining, and steel | Cleveland-Cliffs Inc. | Yes | 6,857 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Metals, mining, and steel | Eurasian Resources Group (ERG) S.a.r.l. | - | Luxembourg | Europe | ||||||||||||||
B- | Outlook Negative | Metals, mining, and steel | MRC Global (US) Inc. | McJunkin Red Man Holding Corp. | Yes | 399 | U.S. | U.S. | ||||||||||||
B- | Outlook Negative | Metals, mining, and steel | United States Steel Corp. | 2,100 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Metals, mining, and steel | WireCo WorldGroup Inc. | Yes | 595 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Midstream | BCP Raptor II, LLC | BCP Raptor HoldCo | 690 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Midstream | EagleClaw Midstream Ventures, LLC | BCP Raptor HoldCo | - | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Midstream | Medallion Gathering & Processing, LLC | Medallion Midland Acquisition, LLC | - | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Midstream | Navitas Midstream Midland Basin, LLC | 390 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Midstream | Oryx Midstream Holdings LLC | 1,500 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Midstream | Paradigm Midstream LLC | 400 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Midstream | WaterBridge Operating LLC | WaterBridge Resources, LLC | 1,000 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Midstream | Zenith Energy U.S. Logistics Holdings, LLC | Yes | 450 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Antero Resources Corp. | 6,400 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Oil and gas | BEP Ulterra Holdings Inc., | Yes | 415 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Berry Petroleum Corp. | Yes | 350 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Encino Acquisition Partners LLC | 550 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Oil and gas | EnVen Energy Corp. | Yes | 650 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Laredo Petroleum Inc. | Yes | 1,800 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Matador Resources Co. | 1,000 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Oil and gas | Nabors Industries Ltd. | Yes | 3,725 | Bermuda | U.S. | |||||||||||||
B- | Outlook Negative | Oil and gas | Welltec A/S | 340 | Denmark | Europe | ||||||||||||||
B- | Outlook Negative | Retail/restaurants | AutoCanada Inc. | Yes | 90 | Canada | Canada | |||||||||||||
B- | Outlook Negative | Retail/restaurants | Conn's Inc. | Yes | 2,850 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Retail/restaurants | Eyemart Express Holdings LLC | Yes | 355 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Retail/restaurants | Golden Nugget Inc. | Yes | 5,998 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Retail/restaurants | K-Mac Holdings Corp. | Yes | 480 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Retail/restaurants | L1R HB Finance Ltd. | 1,012 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Retail/restaurants | Mavis Tire Express Services Corp. | Yes | 1,795 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Retail/restaurants | PAX Midco Spain | Yes | 1,141 | Spain | Europe | |||||||||||||
B- | Outlook Negative | Retail/restaurants | Tacala LLC | Yes | 564 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Telecommunications | Aventiv Technologies, LLC | 1,665 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Telecommunications | Cologix Holdings Inc., | 425 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Telecommunications | DISH DBS Corp. | DISH Network Corp. | 9,250 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Telecommunications | GCI, LLC | GCI Liberty Inc., | 1,556 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Telecommunications | Intrado Corp. | 5,407 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Telecommunications | Oi S.A. | Yes | 1,654 | Brazil | Latin America | |||||||||||||
B- | Outlook Negative | Telecommunications | Xplornet Communications Inc. | 775 | Canada | Canada | ||||||||||||||
B- | Outlook Negative | Transportation | Bahia de las Isletas, S.L. | 632 | Spain | Europe | ||||||||||||||
B- | Outlook Negative | Transportation | Daseke Inc. | 500 | U.S. | U.S. | ||||||||||||||
B- | Outlook Negative | Transportation | International Seaways Inc., | 25 | Marshall Islands | Asia/Pacific | ||||||||||||||
B- | Outlook Negative | Transportation | Navios Maritime Acquisition Corp. | Navios Maritime Holdings Inc. | Yes | 1,340 | Marshall Islands | Asia/Pacific | ||||||||||||
B- | Outlook Negative | Transportation | Promontoria Holding 264 B.V. | Yes | 826 | Netherlands | Europe | |||||||||||||
B- | Outlook Negative | Transportation | Toro Private Holdings I, Ltd. | 3,300 | U.K. | Europe | ||||||||||||||
B- | Outlook Negative | Utilities | Calumet Specialty Products Partners LP | Yes | 4,250 | U.S. | U.S. | |||||||||||||
B- | Outlook Negative | Utilities | Ellaktor S.A. | 728 | Greece | Europe | ||||||||||||||
CCC+ | CreditWatch Negative | Aerospace and defense | MB Aerospace Holdings II Corp. | 305 | U.K. | Europe | ||||||||||||||
CCC+ | CreditWatch Negative | Automotive | Bright Bidco B.V. | Yes | 1,683 | Netherlands | Europe | |||||||||||||
CCC+ | CreditWatch Negative | Automotive | K&N Parent Inc., | 345 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Automotive | Pearl Holding III Ltd. | Yes | 175 | China | Asia/Pacific | |||||||||||||
CCC+ | CreditWatch Negative | Capital goods | Neenah Enterprises Inc., | 120 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Consumer products | Array Canada Inc. | 315 | Canada | Canada | ||||||||||||||
CCC+ | CreditWatch Negative | Consumer products | Output Services Group Inc., | Yes | 1,496 | U.S. | U.S. | |||||||||||||
CCC+ | CreditWatch Negative | Health care | Affordable Care Holding Corp. | 516 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Health care | Exactech Inc., | Yes | 270 | U.S. | U.S. | |||||||||||||
CCC+ | CreditWatch Negative | Health care | Femur Buyer Inc., | Yes | 485 | U.S. | U.S. | |||||||||||||
CCC+ | CreditWatch Negative | Health care | Premier Dental Services Inc. | 996 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Health care | YI Group Holdings, LLC | 338 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Homebuilders/real estate companies | IRSA Inversiones y Representaciones S.A. | Cresud S.A.C.I.F. y A. | 431 | Argentina | Latin America | |||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | CBAC Borrower LLC | 300 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | Cineworld Group PLC | Yes | 6,567 | U.K. | Europe | |||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | Enterprise Development Authority | 450 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | Gateway Casinos & Entertainment Ltd. | 695 | Canada | Canada | ||||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | Hanjin International Corp. | Korean Air Lines Co. Ltd. | 600 | Korea, Republic of | Asia/Pacific | |||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | Thame and London Ltd. | 548 | U.K. | Europe | ||||||||||||||
CCC+ | CreditWatch Negative | Media and entertainment | WeWork Companies LLC | 702 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Metals, mining, and steel | Century Aluminum Co. | Yes | 250 | U.S. | U.S. | |||||||||||||
CCC+ | CreditWatch Negative | Retail/restaurants | Red Lobster Intermediate Holdings LLC | 380 | U.S. | U.S. | ||||||||||||||
CCC+ | CreditWatch Negative | Telecommunications | Gogo Inc. | 1,125 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Aerospace and defense | Bombardier Inc. | 9,314 | Canada | Canada | ||||||||||||||
CCC+ | Outlook Negative | Aerospace and defense | Sequa Corp. | 1,270 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Automotive | Accuride Corp. | 363 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Automotive | Dayco LLC | - | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Automotive | GC EOS Buyer Inc. | 875 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Automotive | PT Gajah Tunggal Tbk. | 250 | Indonesia | Asia/Pacific | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | Ahern Rentals Inc. | Yes | 550 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Aptim Corp. | 515 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | ASP Unifrax Holdings Inc., | Yes | 1,287 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Big Ass Fans, LLC | Yes | 349 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | CPM Holdings Inc. | Yes | 1,480 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | FGI Acquisition Corp. | 200 | France | Europe | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | Granite US Holdings Corp. | 1,200 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | Helix Acquisition Holdings Inc., | Yes | 2,055 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Liqui-Box Holdings Inc., | Yes | 530 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | LTI Holdings Inc., | 1,740 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | NESCO Holdings Inc., | Yes | 475 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Range Parent Inc. | Yes | 620 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Shape Technologies Group Inc., | 350 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | Titan International Inc. | 400 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Capital goods | Welbilt Inc., | Yes | 1,325 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Capital goods | Yak Access, LLC | Yes | 860 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Anchor Glass Container Corp. | 800 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | DCG Acquisition Corp. | Yes | 1,378 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Diamond (BC) B.V. | 2,443 | Netherlands | Europe | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Flint HoldCo S.a r.l. | 2,506 | Luxembourg | Europe | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | FXI Holdings Inc., | 2,075 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Hoffmaster Group Inc. | 547 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | PSC Industrial Outsourcing LP | PSC Holdings I LP | Yes | 570 | U.S. | U.S. | ||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Road Infrastructure Investment Holdings Inc., | 614 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Transcendia Holdings Inc., | 405 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Zep Inc. | 725 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Chemicals, packaging, and environmental services | Zinc-Polymer Parent Holdings, LLC | 355 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Arctic Glacier Group Holdings Inc., | 880 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Boparan Holdings Ltd. | 737 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Brown Jordan International Inc. | 165 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | CatLuxe Sarl | CatLuxe Acquistion Sarl | Yes | 234 | Luxembourg | Europe | ||||||||||||
CCC+ | Outlook Negative | Consumer products | Elevate Textiles Inc., | 710 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | KC Culinarte Holdings LP | 313 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | KCIBT Holdings LP | 1,070 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | New Look Bonds Ltd. | - | Jersey | Europe | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Rodan & Fields, LLC | 600 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Tailored Brands Inc., | 1,500 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Takko Fashion S.a.r.l. | Yes | 554 | Luxembourg | Europe | |||||||||||||
CCC+ | Outlook Negative | Consumer products | The Talbots Inc. | 410 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | TMK Hawk Parent, Corp. | 820 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Consumer products | Transcom TopCo AB | Yes | 196 | Sweden | Europe | |||||||||||||
CCC+ | Outlook Negative | Consumer products | Tupperware Brands Corp. | Yes | 600 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Consumer products | Varsity Brands Holding Co. Inc. | 2,800 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Financial institutions | Banco De Galicia Y Buenos Aires S.A.U. | Yes | 250 | Argentina | Latin America | |||||||||||||
CCC+ | Outlook Negative | Financial institutions | Banco de la Provincia de Buenos Aires | Yes | - | Argentina | Latin America | |||||||||||||
CCC+ | Outlook Negative | Financial institutions | Banco Patagonia S.A. | Banco do Brasil S.A. | Yes | - | Argentina | Latin America | ||||||||||||
CCC+ | Outlook Negative | Financial institutions | CCF Holdings LLC | 319 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Financial institutions | DriveTime Automotive Group Inc., | Yes | 800 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Financial institutions | Provident Funding Associates L.P. | 325 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Forest products and building materials | Apex Tool Group, LLC | Yes | 1,559 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Forest products and building materials | Distribution International Inc. | DI Purchaser, Inc. | Yes | - | U.S. | U.S. | ||||||||||||
CCC+ | Outlook Negative | Forest products and building materials | Millar Western Forest Products Ltd. | Millar Western Industries Ltd. | Yes | 108 | Canada | Canada | ||||||||||||
CCC+ | Outlook Negative | Forest products and building materials | Rayonier Advanced Materials Inc. | 550 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | Alcami Corp. | 1,425 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | Aveanna Healthcare LLC | Aveanna Healthcare Holdings Inc. | 1,046 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Health care | Community Health Systems Inc. | 20,694 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | Heartland Dental, LLC | Hadrian Merger Sub Inc. | 1,610 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Health care | Medical Depot Holdings Inc., | 915 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | nThrive Inc., | 751 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | Viant Medical Holdings Inc., | Yes | 793 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Health care | Vyaire Medical Inc., | 360 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Health care | YanAn Bicon Pharmaceutical Listed Co. | - | China | Asia/Pacific | ||||||||||||||
CCC+ | Outlook Negative | High technology | Finastra Ltd. | Yes | 36,003 | Cayman Islands | U.S. | |||||||||||||
CCC+ | Outlook Negative | High technology | Natel Engineering Co. Inc., | Natel Engineering Holdings Inc., | Yes | 325 | U.S. | U.S. | ||||||||||||
CCC+ | Outlook Negative | High technology | Priority Holdings, LLC | Yes | 1,187 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | High technology | Riverbed Parent Inc., | 2,150 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | High technology | SuperMoose Newco Inc., | 1,335 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | High technology | Transact Holdings Inc., | Yes | 260 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Homebuilders/real estate companies | PT Alam Sutera Realty Tbk. | Yes | 545 | Indonesia | Asia/Pacific | |||||||||||||
CCC+ | Outlook Negative | Homebuilders/real estate companies | Washington Prime Group Inc. | 1,643 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | 24 Hour Fitness Worldwide Inc. | 1,350 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Aimbridge Acquisition Co. Inc. | 770 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Beasley Broadcast Group Inc. | Yes | 260 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Bioplan USA Inc., | 1,040 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Casablanca Global Intermediate Holdings L.P. | 1,900 | British Virgin Islands | Europe | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | ClubCorp Holdings Inc., | 1,600 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | CPI Card Group Inc. | 465 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Diamond Resorts International Inc., | 1,990 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | DTI Holdco Inc., | 1,195 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Endeavor Operating Co., LLC | Yes | 10,840 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Excel Fitness Holdings Inc., | 260 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Grupo Posadas, S. A. B. de C. V. | 400 | Mexico | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | HNVR Midco Ltd. | 2,624 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Hurtigruten Group AS | Silk Holdings Sarl | 1,130 | Norway | Europe | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | KUEHG Corp. | 1,387 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Lakeland Holdings, LLC | 595 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Learfield Communications, LLC | 962 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Mohegan Tribal Finance Authority | Yes | 97 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Mohegan Tribal Gaming Authority | Yes | 1,876 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Peninsula Pacific Entertainment LLC | Yes | 275 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Richmond UK Holdco Ltd. | 1,681 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Southern Graphics Inc. | 679 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Topgolf International Inc., | 350 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Tribe Buyer LLC | Yes | 400 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Media and entertainment | United PF Holdings, LLC | 746 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Media and entertainment | Vericast Corp. | 3,670 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | Conuma Coal Resources Ltd. | 200 | Canada | Canada | ||||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | Covia Holdings Corp. | SCR-Sibelco NV | Yes | 1,650 | U.S. | U.S. | ||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | Ferroglobe PLC | Grupo Villar Mir S.A.U. | - | U.K. | Europe | |||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | Hi- Crush Inc. | 450 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | Taseko Mines Ltd. | 250 | Canada | Canada | ||||||||||||||
CCC+ | Outlook Negative | Metals, mining, and steel | U.S. Silica Co. | 1,280 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Midstream | Epic Y Grade Services, LP | Yes | 950 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Midstream | Gulf Finance, LLC | 1,150 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Midstream | Woodford Express, LLC | 364 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Ascent Resources Utica Holdings, LLC | 2,700 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Basic Energy Services Inc. | 300 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Compania General de Combustibles S.A. | Yes | 300 | Argentina | Latin America | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Crew Energy Inc. | 215 | Canada | Canada | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Denbury Resources Inc. | 4,670 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | EnQuest PLC | 650 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Ensign Drilling Inc. | Ensign Energy Services Inc. | Yes | 700 | Canada | Canada | ||||||||||||
CCC+ | Outlook Negative | Oil and gas | Extraction Oil & Gas Inc. | Extraction Oil & Gas Holdings, LLC | 950 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Great Western Petroleum LLC | 600 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Gulfport Energy Corp. | 2,050 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | HGIM Corp. | Yes | 350 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | HighPoint Resources Corp. | 675 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | ION Geophysical Corp. | 121 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Jonah Energy LLC | 2,100 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | MEG Energy Corp. | Yes | 2,950 | Canada | Canada | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Moss Creek Resources Holdings Inc., | Yes | 1,200 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Northern Oil and Gas Inc. | Yes | 694 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Oasis Petroleum Inc. | 2,475 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Osum Oil Sands Corp. | Yes | 210 | Canada | Canada | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Petroquimica Comodoro Rivadavia S.A. | Yes | - | Argentina | Latin America | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Tervita Corp. | Yes | 610 | Canada | Canada | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | Tullow Oil PLC | 1,450 | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | Vesta Energy Corp. | 144 | Canada | Canada | ||||||||||||||
CCC+ | Outlook Negative | Oil and gas | W&T Offshore Inc. | Yes | 625 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Oil and gas | YPF S.A | 1,968 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | At Home Group Inc. | 425 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | BDF Acquisition Corp. | 265 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Beverages & More Inc., | 190 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Carrols Restaurant Group Inc., | Yes | 425 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Cooper's Hawk Intermediate Holding, LLC | Yes | 200 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Fogo De Chao Inc., | Yes | 324 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | GPS Hospitality Holding Co. LLC | 265 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Kirk Beauty One GmbH | Yes | 2,505 | Germany | Europe | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Main Event Entertainment Inc., | Ardent Leisure Ltd. | 200 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Maxeda DIY Group B.V. | Yes | 570 | Netherlands | Europe | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Mister Car Wash Holdings Inc., | Yes | 800 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | New Academy Holding Co. LLC | 1,825 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Party City Holdings Inc., | PC Nextco Holdings LLC | 2,061 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Petco Holdings Inc. | 3,200 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Quidditch Acquisition Inc., | Yes | 204 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Stonegate Pub Co. Ltd. | - | U.K. | Europe | ||||||||||||||
CCC+ | Outlook Negative | Retail/restaurants | Wok Holdings Inc., | 430 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Telecommunications | Flexential Intermediate Corp. | 1,760 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Telecommunications | GTT Communications Inc., | 3,415 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Telecommunications | IPC Corp. | 1,454 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Telecommunications | Premiere Global Services Inc. | 1,330 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Telecommunications | Syniverse Holdings Inc., | Yes | 1,922 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Telecommunications | Telecom Argentina S.A. | 400 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Transportation | Kenan Advantage Group Inc. | Yes | 1,445 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Transportation | United States Shipping Corp. | 220 | U.S. | U.S. | ||||||||||||||
CCC+ | Outlook Negative | Transportation | YRC Worldwide Inc. | Yes | 600 | U.S. | U.S. | |||||||||||||
CCC+ | Outlook Negative | Utilities | AES Argentina Generacion S.A | AES Corp. (The) | 300 | Argentina | Latin America | |||||||||||||
CCC+ | Outlook Negative | Utilities | CAPEX S.A. | 300 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Utilities | Compania de Transporte de Energia Electrica en Alta Tension TRANSENER S.A. | 99 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Utilities | Empresa Distribuidora Y Comercializadora Norte S.A. | 300 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Utilities | Pampa Energia S.A. | 1,550 | Argentina | Latin America | ||||||||||||||
CCC+ | Outlook Negative | Utilities | Transportadora de Gas del Sur S.A. (TGS) | Compania De Inversiones de Energia S.A. | 500 | Argentina | Latin America | |||||||||||||
CCC | CreditWatch Negative | Automotive | USF Holdings LLC | Yes | 570 | U.S. | U.S. | |||||||||||||
CCC | CreditWatch Negative | Capital goods | Praesidiad Group Ltd. | 345 | U.K. | Europe | ||||||||||||||
CCC | CreditWatch Negative | Consumer products | Grupo Kaltex, S.A. de C.V. | Yes | 320 | Mexico | Latin America | |||||||||||||
CCC | CreditWatch Negative | Homebuilders/real estate companies | Sunshine 100 China Holdings Ltd. | Yes | - | Cayman Islands | U.S. | |||||||||||||
CCC | CreditWatch Negative | Media and entertainment | Downstream Development Authority | 555 | U.S. | U.S. | ||||||||||||||
CCC | CreditWatch Negative | Transportation | Neovia Logistics Intermediate Holdings, LP | Yes | 325 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Automotive | APC Automotive Technologies Intermediate Holdings, LLC | 696 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Automotive | Horizon Global Corp. | 150 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Automotive | McLaren Group Ltd. | Yes | 811 | U.K. | Europe | |||||||||||||
CCC | Outlook Negative | Automotive | SK HoldCo LLC | 1,370 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Capital goods | Briggs & Stratton Corp. | 225 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Capital goods | CLISA-Compania Latinoamericana de Infraestructura & Servicios S.A. | 300 | Argentina | Latin America | ||||||||||||||
CCC | Outlook Negative | Capital goods | Form Technologies LLC | 1,103 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Capital goods | Hoover Group Inc., | 225 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Capital goods | MAI Holdings Inc., | 135 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Capital goods | Optimas OE Solutions Holding, LLC | 450 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Polymer Additives Holdings, Inc. | Yes | 405 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Strategic Materials Holding Corp. | 315 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | UFS Holdings Inc., | 254 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Chemicals, packaging, and environmental services | Viskase Cos. Inc. | Yes | 275 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Consumer products | Anastasia Holdings, LLC | 650 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | ASP MCS Acquisition Corp. | 455 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Badger Finance, LLC | Badger Intermediate Holdings LLC | 1,172 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Consumer products | Blue Ribbon Intermediate Holdings LLC | - | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Flavors Holdings Inc. | 400 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Iconix Brand Group Inc. | - | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Isagenix Worldwide Inc., | - | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Lanai Holdings III Inc., | 2,655 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Missouri TopCo Ltd. | Yes | - | U.K. | Europe | |||||||||||||
CCC | Outlook Negative | Consumer products | Never Slip Topco Inc. | 283 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | NSA International, LLC | 450 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Outerstuff LLC | 155 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | Renfro Corp. | 220 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | StoneMor Partners L.P. | 385 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Consumer products | SunOpta Inc. | - | Canada | Canada | ||||||||||||||
CCC | Outlook Negative | Consumer products | Winebow Group, LLC | 360 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Financial institutions | Banco Hipotecario S.A. | Yes | 350 | Argentina | Latin America | |||||||||||||
CCC | Outlook Negative | Health care | ASP NAPA Holdings, LLC | 353 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Health care | Envision Healthcare Corp. | Envision Healthcare Holdings Inc. | Yes | 7,070 | U.S. | U.S. | ||||||||||||
CCC | Outlook Negative | Health care | Immucor Inc. | Yes | 1,047 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Health care | Mallinckrodt plc | 10,224 | Ireland | Europe | ||||||||||||||
CCC | Outlook Negative | Health care | Turnstone Midco 2 Ltd. | 778 | U.K. | Europe | ||||||||||||||
CCC | Outlook Negative | High technology | Curvature Inc., | 735 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | High technology | Optiv Inc., | Yes | 1,030 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Media and entertainment | Codere S.A. | - | Spain | Europe | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Equinox Holdings Inc. | Yes | 1,211 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Media and entertainment | Imagine Group LLC (The) | 524 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Lago Resort & Casino | 290 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Learning Care Group (US) No. 2 Inc. | Learning Care Group (US) Inc. | Yes | 710 | U.S. | U.S. | ||||||||||||
CCC | Outlook Negative | Media and entertainment | Mood Media Corp. | 556 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Owl Finance Ltd. | Hibu Group Ltd. | Yes | 280 | U.K. | Europe | ||||||||||||
CCC | Outlook Negative | Media and entertainment | PT MNC Investama Tbk. | 231 | Indonesia | Asia/Pacific | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Safari Beteiligungs Gmbh | 380 | Germany | Europe | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Salem Media Group Inc. | 255 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Town Sports International Holdings Inc. | 325 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Media and entertainment | Urban One Inc., | Yes | 700 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Metals, mining, and steel | International Wire Group Holdings Inc. | 260 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Midstream | Glass Mountain Pipeline, LLC | 300 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Oil and gas | Athabasca Oil Corp. | Yes | 450 | Canada | Canada | |||||||||||||
CCC | Outlook Negative | Oil and gas | Fieldwood Energy LLC | Yes | 1,660 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Oil and gas | Profrac Services, LLC | 180 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Oil and gas | Seadrill Partners LLC | Seadrill Ltd. | 2,900 | Marshall Islands | Asia/Pacific | |||||||||||||
CCC | Outlook Negative | Oil and gas | Transocean Ltd. | 9,946 | Switzerland | Europe | ||||||||||||||
CCC | Outlook Negative | Oil and gas | UTEX Industries Inc. | 792 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Oil and gas | Vantage Drilling International | Yes | 300 | Cayman Islands | U.S. | |||||||||||||
CCC | Outlook Negative | Oil and gas | Weatherford International plc | 2,490 | Ireland | Europe | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Belk Inc., | 1,058 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Burger BossCo Intermediate Inc., | 193 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Distribuidora Internacional de Alimentacion S.A. | 652 | Spain | Europe | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Fresh Market Inc., (The) | 800 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Guitar Center Holdings Inc. | 946 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Hema B.V. | AMEH XXVI B.V. | 109 | Netherlands | Europe | |||||||||||||
CCC | Outlook Negative | Retail/restaurants | Jo-Ann Stores Holdings Inc. | 1,130 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Retail/restaurants | Miller's Ale House Inc., | Yes | 271 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Retail/restaurants | PHD Group Holdings LLC | Yes | 487 | U.S. | U.S. | |||||||||||||
CCC | Outlook Negative | Telecommunications | Cyxtera DC Holdings Inc., | 1,225 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Telecommunications | iQor Holdings Inc. | 820 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Telecommunications | Logix Intermediate Holding Corp. | 250 | U.S. | U.S. | ||||||||||||||
CCC | Outlook Negative | Transportation | CAR Inc. | Yes | 557 | Cayman Islands | U.S. | |||||||||||||
CCC | Outlook Negative | Transportation | Swissport Group S.a.r.l | Yes | 1,798 | Luxembourg | Europe | |||||||||||||
CCC | Outlook Negative | Utilities | GCL New Energy Holdings Ltd. | GCL-Poly Energy Holdings Ltd. | 500 | Bermuda | U.S. | |||||||||||||
CCC | Outlook Negative | Utilities | Investimentos e Participacoes em Infraestrutura S.A. - Invepar | - | Brazil | Latin America | ||||||||||||||
CCC | Outlook Negative | Utilities | Ukrainian Railways JSC | Yes | 500 | Ukraine | Eastern Europe/Middle East/Africa | |||||||||||||
CCC- | CreditWatch Negative | Automotive | Aston Martin Holdings (UK) Ltd. | 1,195 | U.K. | Europe | ||||||||||||||
CCC- | CreditWatch Negative | Chemicals, packaging, and environmental services | Grupo IDESA, S.A. de C.V. | 300 | Mexico | Latin America | ||||||||||||||
CCC- | CreditWatch Negative | Consumer products | RGIS Holdings LLC | Yes | 460 | U.S. | U.S. | |||||||||||||
CCC- | CreditWatch Negative | Forest products and building materials | Omnimax International Inc., | 385 | U.S. | U.S. | ||||||||||||||
CCC- | CreditWatch Negative | Telecommunications | Alorica Inc. | 1,063 | U.S. | U.S. | ||||||||||||||
CCC- | CreditWatch Negative | Transportation | Avianca Holdings S.A. | 1,595 | Panama | Latin America | ||||||||||||||
CCC- | Outlook Negative | Consumer products | Ascena Retail Group Inc. | 1,800 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Consumer products | Jill Acquisition LLC | Jill Holdings LLC | 290 | U.S. | U.S. | |||||||||||||
CCC- | Outlook Negative | Consumer products | KNB Holdings Corp. | 295 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Consumer products | Novartex | - | France | Europe | ||||||||||||||
CCC- | Outlook Negative | Consumer products | Pyxus International Inc., | 995 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Consumer products | Serta Simmons Bedding LLC | 9,150 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Financial institutions | Corp Group Banking S.A. | Inversiones CorpGroup Interhold, Ltda. | 500 | Chile | Latin America | |||||||||||||
CCC- | Outlook Negative | Forest products and building materials | Northwest Hardwoods Inc. | 435 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Health care | CDRH Parent Inc., | 1,590 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | High technology | Navico Group AS | 260 | Norway | Europe | ||||||||||||||
CCC- | Outlook Negative | High technology | Vestel Elektronik Sanayi Ve Ticaret A.S. | Yes | - | Turkey | Eastern Europe/Middle East/Africa | |||||||||||||
CCC- | Outlook Negative | Media and entertainment | AMC Entertainment Holdings Inc. | Yes | 6,074 | U.S. | U.S. | |||||||||||||
CCC- | Outlook Negative | Media and entertainment | Central Security Group Inc., | 400 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Media and entertainment | Exela Technologies Inc. | 2,396 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Metals, mining, and steel | Mountain Province Diamonds Inc. | 660 | Canada | Canada | ||||||||||||||
CCC- | Outlook Negative | Midstream | Martin Midstream Partners L.P. | 800 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Bruin E&P Partners, LLC | 600 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Calfrac Well Services Ltd. | - | Canada | Canada | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Chaparral Energy Inc. | 300 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | FTS International Inc., | 1,050 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Lonestar Resources U.S. Inc., | 250 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Noble Corp. PLC | Yes | 5,200 | U.K. | Europe | |||||||||||||
CCC- | Outlook Negative | Oil and gas | Nostrum Oil and Gas PLC | 960 | U.K. | Europe | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Pacific Drilling S.A. | 1,024 | Luxembourg | Europe | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Source Energy Services Ltd. | 227 | Canada | Canada | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Valaris plc | 9,550 | U.K. | Europe | ||||||||||||||
CCC- | Outlook Negative | Oil and gas | Vine Oil & Gas LP | 1,760 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Retail/restaurants | California Pizza Kitchen Inc., | 365 | U.S. | U.S. | ||||||||||||||
CCC- | Outlook Negative | Retail/restaurants | Grupo Famsa, S.A.B. de C.V. | 81 | Mexico | Latin America | ||||||||||||||
CCC- | Outlook Negative | Retail/restaurants | Steak n Shake Inc. | Biglari Holdings Inc. | 220 | U.S. | U.S. | |||||||||||||
CCC- | Outlook Negative | Telecommunications | Global Eagle Entertainment Inc. | Yes | 500 | U.S. | U.S. | |||||||||||||
CC | CreditWatch Negative | Health care | Akorn Inc., | Yes | 1,045 | U.S. | U.S. | |||||||||||||
CC | CreditWatch Negative | Retail/restaurants | GNC Holdings Inc. | 1,254 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Consumer products | Revlon Inc. | 2,300 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Media and entertainment | Buena Vista Gaming Authority | 205 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Media and entertainment | GK Holdings Inc., | 225 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Media and entertainment | Travelex Holdings Ltd. | 503 | U.K. | Europe | ||||||||||||||
CC | Outlook Negative | Midstream | CSI Compressco LP | Yes | 1,400 | U.S. | U.S. | |||||||||||||
CC | Outlook Negative | Midstream | Ferrellgas Partners L.P. | 5,064 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | California Resources Corp. | 7,429 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | Callon Petroleum Co. | Yes | 1,900 | U.S. | U.S. | |||||||||||||
CC | Outlook Negative | Oil and gas | Centennial Resource Development Inc., | 900 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | Chesapeake Energy Corp. | 11,630 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | Forum Energy Technologies Inc., | 400 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | SM Energy Co. | Yes | 2,300 | U.S. | U.S. | |||||||||||||
CC | Outlook Negative | Oil and gas | Superior Energy Services Inc. | 1,300 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Oil and gas | Unit Corp. | 650 | U.S. | U.S. | ||||||||||||||
CC | Outlook Negative | Retail/restaurants | CEC Entertainment Inc. | Yes | 1,015 | U.S. | U.S. | |||||||||||||
CC | Outlook Negative | Retail/restaurants | PIZZAEXPRESS FINANCING 1 PLC | Yes | 249 | U.K. | Europe | |||||||||||||
CC | Outlook Negative | Utilities | Aeropuertos Argentina 2000 S.A. | 400 | Argentina | Latin America | ||||||||||||||
Data as of May 11, 2020. Source: S&P Global Ratings Research. |
For additional information regarding weakest links, please see our most recent quarterly publication, "Social Distancing Boosts Weakest Links," published April 8, 2020.
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This report does not constitute a rating action.
Credit Markets Research: | Nicole Serino, New York + 1 (212) 438 1396; nicole.serino@spglobal.com |
Sudeep K Kesh, New York (1) 212-438-7982; sudeep.kesh@spglobal.com |
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